LAS VEGAS — Nevada plans to offer $335 million in state tax incentives and infrastructure upgrades to an upstart Chinese investor-backed electric carmaker that wants to build $1 billion production plant in a Las Vegas suburb – an agreement Gov. Brian Sandoval called a good bet for the state’s future.
The Republican governor on Thursday formally announced a tentative deal with Faraday Future, and projected the overall economic impact on the local and state economy would be $85 billion over 20 years.
“Is this good for Nevada? The answer (is) a resounding yes, yes, yes,” Sandoval told applauding public officials, state lawmakers and union members at a ceremony in Las Vegas.
The governor didn’t set a date, but made it clear he plans to convene Nevada lawmakers before Christmas for a short special session to authorize the agreement. Faraday hopes to break ground on a 3 million square-foot facility in North Las Vegas in January.
The Gardena, California-based company hopes to bring a vehicle to market as early as 2017.
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.